SAN DIEGO, March 11, 2019 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain investors in NASDAQ: EVER shares.
Investors, who purchased shares of EverQuote, Inc. (NASDAQ: EVER), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On or about June 18, 2018, EverQuote, Inc. sold 4.69 million shares of stock in its initial public stock offering (the "IPO"), at $18 a share raising $84,375,000 in new capital. In August 2018, EverQuote’s pubic earnings report revealed that second quarter 2018 quote request volume had worsened to a year-over-year growth rate of only 2.3% and, moreover, to a quarterly decline of 12%. Then, in November 2018, EverQuote revealed dramatically worse third quarter 2018 results. Among other things, quote request volume had worsened into not only zero growth, but in fact had declined 6% year-over-year. Shares of EverQuote, Inc. (NASDAQ: EVER) declined to as low as $4.05 per share in late December 2018.
The plaintiff alleges that the Registration Statement that was filed in connection with EverQuote’s June 2018 IPO contained untrue statements of material fact and omitted to state material facts both required by governing regulations and necessary to make the statements made not misleading. Among other things, the plaintiff alleges that the Registration Statement touted the Company’s year-over-year and quarterly increases in both revenue and quote request volume and touted a trend of exponential yearly growth in quote request volume.
Those who purchased EverQuote, Inc. (NASDAQ: EVER) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.